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<Research>HSBC Research Recommends XPENG, NIO, BYD COMPANY on Robust NEV Demand in CN
Recommend 20 Positive 27 Negative 17 |
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Demand for passenger cars in China rebounded since August, HSBC Global Research issued a research report saying. The overall sales in China's auto market amounted to 1.9 million units, down 1% YoY, but up 11% MoM, outperforming the broker's forecast of a 9% YoY decline. HSBC Global Research expected demand for vehicles, including NEVs, to remain strong in September and October, while prices will stabilize, supported by the traditional peak season, numerous stimulus measures and new model launches from automakers. HSBC Global Research remained bullish on leading EV companies, especially those with many new models to be launched, including XPENG-W (09868.HK) (XPEV.US), NIO-SW (09866.HK) (NIO.US) and BYD COMPANY (01211.HK), which are all rated at Buy, with target prices of $60, $55.8 and $322, respectively. AAStocks Financial News |
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